- Challenger job cuts in the US declined sharply in October.
- The US Dollar DXY Index continues to decline below 93.00.
Planned job cuts at US-based employers fell to 80,666 in October from 118,804 in September, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.
“The October total is 32% lower than the 118,804 cuts announced in September“reads the post.”It is 60% higher than the 50,275 cuts from the same month last year. October total is the lowest since February, when 56,605 cuts were announced“.
Commenting on the data, “the lower figures certainly indicate that Some companies affected by the lockdown orders were able to reopen and avoid job cuts“said Andrew Challenger, senior vice president of Challenger, Gray & Christmas, Inc.” However, as cases increase and more jurisdictions impose stricter enforcement, and stimulus money runs out without upcoming legislation, it is likely that uncertainty drives many company decisions about worker retention. ”
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Credits: Forex Street
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